April 24 (Reuters) - Gold prices fell on Friday as the
dollar firmed, although they remained close to a more than
one-week high scaled in the previous session following bleak
economic data and a latest round of stimulus in the United
States.
FUNDAMENTALS
* Spot gold XAU= declined 0.4% to $1,724.04 per ounce by
0029 GMT, having risen as much as 1.5% to a more-than one-week
high of $1,738.58 on Thursday. U.S. gold futures GCv1 gained
0.1% to $1,747.80. The metal's weekly gain so far stood at 2.4%.
* Against key rivals, the U.S. dollar .DXY was holding
close to a more-than two-week high scaled in the previous
session, while Asian equities face a bumpy session on Friday.
USD/ MKTS/GLOB
* The U.S. House of Representatives overwhelmingly approved
a $484 billion coronavirus relief bill on Thursday, pushing the
total spending response to the crisis to an unprecedented near
$3 trillion. * Widespread stimulus measures support gold as it is seen as
a hedge against inflation and currency debasement.
* European Union leaders agreed on Thursday to build a
trillion-euro emergency fund to help recover from the pandemic,
avoiding another all-night bust-up but leaving divisive details
until the summer. * Global economic activity all but ground to a halt this
month as lockdowns took a particularly heavy toll on the world's
service industry, surveys showed on Thursday. * The U.S. Labor Department on Thursday said 4.427 million
more people applied for unemployment benefits last week, taking
the total since mid-March to 26.5 million. * British consumer confidence held at its lowest since 2009
this month after tumbling in late March, while Japan's annual
core consumer inflation growth rate slowed for the second
straight month. * Palladium XPD= fell 0.5% to $1,970.18 per ounce and was
on track to post its fourth straight weekly decline.
* Platinum XPT= gained 0.7% to $760.68 an ounce, while
silver eased 0.6% to $15.21.
DATA/EVENTS (GMT)
0600 UK Retail sales MM, YY March
0600 UK Retail sales ex-fuel MM March
0800 Germany Ifo Business Climate New April
0800 Germany Ifo Current Conditions New April
0800 Germany Ifo Expectations New April
1230 U.S. Durable Goods March
1400 U.S. U Mich Sentiment Final April